In a recent interview, Anthony Pompliano (aka “Pomp”), partner and co-founder at crypto-focused asset management firm Morgan Creek Digital Assets, talked about Bitcoin in general and his Bitcoin price predictions in particular.
Pompliano’s comments came during an interview (released on January 22) with Daniela Cambone, Editor-at-Large and Anchor at Stansberry Research.
Cambone stated the interview by asking Pompliano how he is able to handle Bitcoin’s recent wild price fluctuations.
Pompliano said that he was not concerned by Bitcoin’s short-term price action:
“I just don’t pay attention. It doesn’t matter. The day-to-day price swings… if you’re a trader, super important, but if you are somebody who’s holding for, you know years if not decades, then in fact it just doesn’t matter, and so I fall in that latter bucket.“
Near the end of the interview, when asked to give his price forecast for Bitcoin, Pompliano replied:
“I am less and less of a fan of predicting things as I get older, but in 2019, I wrote a piece that said I believe that Bitcoin was going to go from around $10,000 at the time to $100,000 by the end of 2021… I still believe that. I haven’t changed it. Somehow, I’m now the most conservative guy in the room…
“When we look out over a very very long time horizon, so if you give me the benefit the doubt and say, ‘hey don’t put a time prediction on it, just tell me kind of where the value of this thing goes’, I absolutely think at some point in my lifetime we’ll see a million dollar Bitcoin price, but I don’t know if that necessarily has more to do with like Bitcoin value accrual as much as the devaluation of the dollar just over long period of time…
“You just got to be able to stomach tons and tons of volatility… but if you’re a long-term holder, you kind of do your research, and you get comfortable with it, then I think that it could be a pretty amazing thing to put in a portfolio.“
